According to the “World News” and “Daily Mail” report, Luka Modrić, the winner of the World Cup Golden Ball and the UEFA Men’s Player of the Year award is in great trouble recently because of the tax evasion! What’s going on?

Luka Modrić © Image | Twitter

2.6 million Euros penalty & 5-year imprisonment?!

According to the latest report from the Spanish newspaper Le Monde, Real Madrid midfielder Luka Modrić admits that there is tax fraud. In order to avoid jail, he has paid 2.6 million euros in Spain to evade taxes.

 

However, even if he has honestly paid the penalty, he is still not completely rid of the five-year imprisonment for helping people with financial perjury.

Luka Modrić

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Justice has long arms.

Many fans feel that the Luka Modrić is really unlucky recently!

Why can it be detected after a few years? How is the overseas income found?

Because of CRS! 

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Once the CRS information exchange is carried out, it is not accidental that the magic flute tax evasion is investigated and fined.

CRS Will Affect Every One of Us, Please Notice These Things!

CRS Will Affect Every One of Us, Please Notice These Things!

 

For Example

If you have 100 million financial assets in Germany, the Chinese tax authorities did not know at the beginning, but since China and Germany have joined the CRS, Germany exchanges your financial products and insurance financial assets every year with the Chinese tax authorities.

Then the Chinese tax authorities know that you have 100 million assets in Germany. The annual income of 8 million profits generated by this part of the assets needs to be taxed according to the law! However, if these profits were not paid tax before, you would face penalty now.

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Under the new CRS rules of the international community, business owners, especially those in the foreign trade business, must be involved. What should we do?

Many foreign trade owners and overseas HNWIs are shocked to hear of CRS, but the reality is not that bad. To reassure our friends, Ms. Nico, the co-founder of HACOS, who has more than 10 years of experience in foreign trade finance and taxation, will analyze for you.

 

Nico, the co-founder of HACOS

CRS, both challenge and opportunity

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Since the exchange of information between Hong Kong and mainland China just began, it is inevitable that the first batch of exchange accounts will be censored with screening conditions.

 

If the results of the annual review are legitimate income, there is nothing to fear from the CRS tax information exchange.

 

On the contrary, conducting the audit on time will improve the enterprise’s reputation and greatly help the business.

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Suggestion

Because more and more banks are now raising the threshold for newly opened accounts, especially HSBC and Hang Seng Bank will regularly review existing accounts.

 

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❶ For companies that have been audited last year, the annual audit will be carried out as early as possible, the risk of being investigated will be greatly reduced, the account will be safer and have international credibility. If you encounter the bank require you to reply to a question or provide relevant information, you can contact HACOS, we can provide you with professional guidance.

❷ If you have a bank account that is not audited, the first thing you should do with CRS is to do the accounting and auditing. In addition, you need to choose a professional and highly qualified institution to issue an audit report for your Hong Kong company that meets the requirements of the HK government and to avoid all kinds of risks.

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